In this study, a series of high-efficient catalyst, Co–Fe/Al2O3, were synthesized via the sol-gel method for low-temperature phenol steam reforming (PSR). The optimized catalyst, 15Co–2Fe/Al2O3, exhibited a remarkable phenol conversion of 95.3%, a H2 yield of 92.1% at 450 °C, GHSV = 7500 h−1 and a steam-to-carbon (S/C) ratio of 10. Furthermore, the catalyst activity was maintained for 660 min before a gradual decline was observed. The NH3-TPD analysis revealed that the addition of Fe enhanced the surface acidity of the catalyst, providing more active sites for phenol adsorption and activation. This study aims to address the challenges associated with high reaction temperatures and poor catalyst stability in PSR. Various characterization techniques have been employed to investigate the reaction mechanisms of bimetallic catalysts in low-temperature PSR.